The weekend saw a steady rebound in the crypto market with several coins trading positively which in turn has seen the total market cap surpass the $200 billion mark. Leading crypto Bitcoin began the weekend well with the coin making initial positive gains.
However, BTC during this period has failed in several attempts to consolidate positions above the $7500 resistance mark. As at the time of writing, BTC is priced at $7,470 with a 24 hour gain of just 0.25% and a market cap of $134.6 billion.
Keeping in track with our daily intraday trading analysis, we look at some of the major coins in the crypto market with Tezos (XTZ), Verge (XVG), VeChain (VET) as our main focus for today.
Tezos (XTZ)Intraday Analysis
Tezos made significant marginal gains over the weekend with around 27% value gained. This change in price pushed the coin above Cardano on the coin rankings with Tezos currently just outside the top 10 places.
Tezos has exceeded $1 billion market cap as the crypto coin continues to charge up in the last 24 hours. XTZ made a gain of 6.85% against the USD during this period and is currently valued at $1.57.
On the upside, if the current trend continues, we expect XTZ to surpass the resistance mark of $2.00 in the coming days. However, a downside would see the coin drop to $1.47 support level.
Verge (XVG) Intraday Analysis
Privacy coin Verge was one of the top gainers in the market within the last 24 hours with the coin recording an increase in the value of 6.45%. Verge (XVG) began the day trading at $0.00456 but initiated a positive drive on the rising wedge a few hours later.
Although Verge has made a slight descent to $0.004920 price at press time, the cryptocurrency reached its peak around 21.40 UTC to trade for $0.0053 per unit against the US Dollar.
Looking at the trend, we can predict that on the upside XVG would be looking to surpass the psychological barrier of $0.005 and consolidate on the position. However, a downside would see $0.0048 as the next support level.
VeChain Intraday Analysis
We complete our today’s analysis with supply chain focused blockchain, VeChain. The blockchain network has been making significant strides in the industry and VET has also been performing well in the market over the weekend. As of the time of writing, Vechain is valued at $0.007058 with the coin gaining 3.17% in the last 24 hours.
In the last 30 days, VeChain has added 42+% to its value against BTC. Since December, VeChain has been quite promising in the market, raising the expectation of its lovers.
On the upside, the next resistance level for VET is $0.0075, while on the flipside, a negative turn could see the coin hit the $0.005 support levels.